Immediate release - For the last 6 months I am on the bench and had 2 years bond and 90 days notice period

Hi, For the last 6 months I am on the bench and had 2 years bond and 90 days notice period, with an amount of 1 lakh as a penalty for breaking the bond.
Now I have another offer with the latest domain having a 100% more hike from my current CTC, but I have to join within 10 days.
I want to switch, but now I can get immediate release without serving a notice period?

Why did you apply for another job when you knew very well that you had a 2 year bond and a 90 day notice period with the current company? If the current contract is legally enforceable, you are not able to apply for other jobs.

It would appear your only option is to talk to your employer and hope they do the right thing and release you since they currently have no work for you.

Since you will earn twice as much in the new job, might be best just to pay the penalty but I doubt they will let you leave within 10 days.